Energy Income Partners LLC Buys 11,754 Shares of Quanta Services, Inc. $PWR

Key Points

• Energy Income Partners LLC increased its stake in Quanta Services, Inc., growing its holdings by 4.0% to approximately $78.51 million, making it the 20th largest position in their portfolio.
• Analysts are optimistic, with 13 rating the stock as a Buy and a consensus target price of $392.45, showing a positive outlook following recent price adjustments from multiple financial institutions.
• Quanta Services recently announced a quarterly dividend of $0.10 to be paid on October 10th, representing an annualized payout of $0.40 and a yield of 0.1%.

Energy Income Partners LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 308,855 shares of the construction company's stock after purchasing an additional 11,754 shares during the period. Quanta Services accounts for about 1.5% of Energy Income Partners LLC's investment portfolio, making the stock its 20th biggest holding. Energy Income Partners LLC owned 0.21% of Quanta Services worth $78,505,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pinnacle Wealth Planning Services Inc. raised its stake in Quanta Services by 3.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 951 shares of the construction company's stock valued at $242,000 after buying an additional 32 shares during the period. Frank Rimerman Advisors LLC increased its stake in shares of Quanta Services by 1.1% during the first quarter. Frank Rimerman Advisors LLC now owns 3,114 shares of the construction company's stock worth $792,000 after purchasing an additional 34 shares during the period. Legacy Capital Wealth Partners LLC increased its stake in shares of Quanta Services by 3.4% during the first quarter. Legacy Capital Wealth Partners LLC now owns 1,089 shares of the construction company's stock worth $277,000 after purchasing an additional 36 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Quanta Services by 2.6% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,436 shares of the construction company's stock worth $365,000 after purchasing an additional 37 shares during the period. Finally, Cary Street Partners Investment Advisory LLC increased its stake in shares of Quanta Services by 15.6% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 282 shares of the construction company's stock worth $72,000 after purchasing an additional 38 shares during the period. Institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PWR shares. Evercore ISI increased their target price on Quanta Services from $360.00 to $410.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. JPMorgan Chase & Co. increased their price target on Quanta Services from $345.00 to $392.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group reissued a "buy" rating and set a $414.00 price target (up previously from $364.00) on shares of Quanta Services in a research report on Wednesday, June 4th. Piper Sandler reissued an "overweight" rating and set a $370.00 price target (up previously from $360.00) on shares of Quanta Services in a research report on Tuesday, May 27th. Finally, TD Cowen raised their target price on Quanta Services from $355.00 to $425.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.18.

Quanta Services Price Performance

Shares of NYSE PWR traded up $1.37 during mid-day trading on Thursday, hitting $375.78. 937,468 shares of the stock traded hands, compared to its average volume of 1,374,560. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $424.94. The company has a market cap of $55.99 billion, a PE ratio of 58.17, a price-to-earnings-growth ratio of 2.24 and a beta of 1.01. The firm has a 50 day simple moving average of $387.65 and a two-hundred day simple moving average of $329.39.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter last year, the business posted $1.90 EPS. Quanta Services's revenue for the quarter was up 21.1% on a year-over-year basis. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. As a group, equities research analysts forecast that Quanta Services, Inc. will post 9.34 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Wednesday, October 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Quanta Services's payout ratio is presently 6.19%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.